HSBC Cuts Pension Contributions for New Executive Directors

Date : 03/15/2019 @ 9:49AM
Source : Dow Jones News
Stock : Hsbc Holdings, Plc. (HSBC)
Quote : 41.43  0.0 (0.00%) @ 12:17PM

HSBC Cuts Pension Contributions for New Executive Directors

Hsbc (LSE:HSBA)
Historical Stock Chart

6 Months : From Jan 2019 to Jul 2019

Click Here for more Hsbc Charts.
   By Ian Walker 
 

HSBC Holdings PLC (HSBA.LN) said Friday that it is reducing pension contributions for new directors to 10% of base salary, from 30% previously.

Following talks with key shareholders, the remuneration committee has set the new rate as part of the 2019 policy, HSBC said. It added that although existing directors are compensated under the 2016 policy, they have requested that their own remuneration be brought in line.

HSBC said that changes reflect recent developments in market practice and shareholder expectations.

"Our guiding principle has been to create a policy that is simple, transparent and in the interests of all stakeholders," said Chairman of the Remuneration Committee Pauline van der Meer Mohr.

"We believe this is the right thing to do for the business, for our employees and for our shareholders," she added.

Shares in London at 0910 GMT were up 1.70 pence, or 0.3%, at 622.10 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

March 15, 2019 05:34 ET (09:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest HSBC Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.